The Federal Tax Service of Russia will not change the bill on amendments to the Tax Code on declaration of income in cryptocurrencies - Bits Media

Changes to the Tax Code suggest obliging citizens to declare transactions with cryptocurrencies. The Federal Tax Service is not going to change this paragraph of the bill even after criticism of experts.

FROM 1 january 2021 year in Russia came into force the Law on Digital Assets (CFA), in which the right is spelled out (but not a duty!) citizens declare transactions with such assets. In February of this year, the State Duma adopted the bill in the first reading, regulating the taxation of income from operations with cryptocurrencies. The document received negative assessments from experts, however, the department does not plan to soften its position. In fact, after the adoption of the bill, the Ministry of Finance will have the opportunity to establish fines or criminal liability for failure to provide information about transactions with cryptocurrencies.

“The Tax Code of the Russian Federation should provide exactly the procedure for informing. The draft federal law establishes such a procedure and does not interfere with voluntary reporting.. therefore, despite the fact that the bill was not developed in pursuance of Law 259-FZ, it fully complies with the provisions… and does not contradict him ", - said in the letter of the Federal Tax Service to the ANO Digital Economy.

As noted by the teacher of Moscow Digital School Dmitry Kirillov, In fact, the Federal Tax Service "replaces" the citizen's right to inform the tax authority about transactions with cryptocurrencies established by the law on the CFA with "the right to report the receipt of the right to cryptocurrency, submit reports on transactions with cryptocurrency and its balances ", which is tantamount to duty. And this directly contradicts the law on the CFA, thinks Kirillov.

At the end of September last year, the Ministry of Finance of the Russian Federation sent
A package of bills, introducing cryptocurrencies in the country, including, the need to declare cryptocurrencies and operations with them. For refusing to provide such information, fines are provided and, with large volumes of transactions, Even criminal liability.

"Obviously, that ordinary citizens will be under the main blow, which will decide to experiment with crypt, While professional attackers will easily bypass all restrictions, Using technical means of anonymization ", - noted a member of the Association of Russian Lawyers Mikhail Uspensky.

Experts warn, that a tough position in this matter can lead to that, that companies, working in the cryptocurrency sphere, will begin to leave Russia to other jurisdictions.

About that, that cryptocurrencies must be taxed by tax, At the end 2020 He spoke years
and chairman of the State Duma Committee on the Financial Market Anatoly Aksakov.